In November 2019, Badoo was part of a significant transaction where its majority stake, alongside that of Bumble, was sold to Blackstone Group in a deal valued at $3 billion. It's important to note that this $3 billion figure represents the combined valuation for both Badoo and Bumble in that specific acquisition.
Details of the Acquisition
The sale involved Andrey Andreev, the founder behind both Badoo and Bumble, divesting his majority stake in these popular online dating platforms to the private equity powerhouse, Blackstone Group. This strategic move brought two major players in the digital dating landscape under the ownership of Blackstone.
- Acquiring Entity: Blackstone Group
- Assets Acquired: Majority stake in both Badoo and Bumble
- Transaction Date: November 2019
- Total Valuation: $3 billion for the combined entity of Badoo and Bumble
This valuation underscores the significant market presence and combined user base of both platforms. While Badoo is recognized globally, Bumble is particularly noted for its unique female-first messaging approach. The $3 billion figure reflects the comprehensive value attributed to this joint acquisition.
Context and Subsequent Ventures
Following the substantial sale of Badoo and Bumble, Andrey Andreev ventured into new innovative projects. In August 2020, he launched Stereo, an audio-only social media platform designed to compete in the burgeoning audio app market, similar to Clubhouse. This transition highlights Andreev's continued entrepreneurial spirit and focus on developing novel social media experiences beyond the dating app sector.
